TCPL Packaging Ltd stands as India's leading packaging solutions company, specializing in the manufacturing of premium paperboard-based packaging materials and flexible packaging products. The company is a prominent player in the Printing and Packaging segment, recognized as India's largest folding carton manufacturer and a leading convertor of paperboard. TCPL is dedicated to producing sustainable packaging solutions that cater to a diverse range of industries.
Originally incorporated as Twenty-First Century Printers Ltd in August 1987, TCPL Packaging Limited was promoted by Sajjan Jindal, Debasis Chaudhri, and members of the Kanoria family. The company is headquartered in Mumbai, India, and boasts a significant pan-India presence with seven state-of-the-art manufacturing facilities and marketing offices strategically located in key metropolitan cities.
TCPL Packaging operates across various business segments, serving a multitude of industries with its comprehensive packaging solutions. The company offers a wide array of paperboard-based packaging, including folding cartons, printed blanks and outers, litho-lamination, plastic cartons, blister packs, and shelf-ready packaging. Furthermore, TCPL has successfully diversified into the flexible packaging industry, possessing the capability to produce printed cork-tipping paper, laminates, sleeves, and wrap-around labels.
As a convertor of paperboard, the company manufactures folding cartons, litho lamination, plastic cartons, blister packs, and shelf-ready packaging. Its flexible packaging division produces printed cork-tipping paper, laminates, sleeves, and wrap-around labels. TCPL also supplies blanks and outers to global tobacco companies and caters to both Indian and global liquor companies for their packaging needs, encompassing folding cartons and fluted cartons.
The company serves prominent brands across various sectors, including FMCG, pharmaceutical, and electronics. Popular brands that rely on TCPL Packaging Ltd's products include Nestle, Pepsi, HUL, P&G, and Samsung. Additionally, TCPL has established a strong foothold in the e-commerce sector through its customized packaging solutions.
TCPL Packaging has demonstrated strong financial performance for the quarter ending December 2024. Net sales reached ₹479.66 crore, and Profit After Tax (PAT) stood at ₹37.73 crore, both marking significant peaks. These results highlight a notable upward trend, with net sales achieving the highest figure in the last five quarters. The Profit After Tax (PAT) also hit a peak of ₹37.73 crore, reflecting a substantial growth of 30.6% compared to the average PAT of the preceding four quarters.
TCPL Packaging Ltd's revenue saw a significant increase of 32.77% compared to the same period last year, reaching ₹491.65 crore in Q3 FY2024-2025. On a quarterly basis, there was a 6.13% jump in revenue from the previous three months. The company's net profit surged by 96.1% year-on-year to ₹37.73 crore in Q3 FY2024-2025, with quarterly net profits showing a 6.16% increase over the last three months.
For the financial year 2023-24, TCPL Packaging's revenues stood at ₹15,520 million, marking a 4.5% increase from the ₹14,845 million reported in FY23. Over the past five years, revenue has grown at a Compound Annual Growth Rate (CAGR) of 14.9%, with revenues increasing from ₹8,919 million in FY20 to ₹15,520 million in FY24. In contrast, the net profit for FY24 was ₹1,014 million, a decrease of 8.2% compared to the ₹1,104 million reported in FY23.
The market capitalization of TCPL Packaging Ltd (TCPLPACK) was ₹3,479.13 crore as of May 22, 2025. The company's Price-to-Earnings (P/E) ratio stands at 34.32, and its Price-to-Book (P/B) ratio is 6.62. The current dividend yield is 0.58%.
The 52-week high for TCPL Packaging shares is ₹4,900, and the 52-week low is ₹2,015. Over the past six months, the share price has increased by 23.87%, and in the last year, it has seen a significant rise of 82.7%.
The promoter holding in TCPL Packaging Ltd remained consistent at 55.74% as of March 2025, the same as reported in June 2024.
The company has achieved remarkable financial performance, evidenced by a 32% year-on-year revenue increase and a 71% surge in profit before tax. This growth is primarily driven by strong demand in the flexible packaging segment and strategic investments in capacity expansion. Optimism is further buoyed by recent tax reductions and a continued focus on sustainable practices, despite facing challenges such as fluctuating raw material prices and a somewhat sluggish domestic market.
The introduction of innovative products, such as specialty pizza boxes, coupled with a steadfast commitment to quality in pharmaceutical packaging, positions TCPL for sustained future growth. Strategic partnerships are also enhancing production capabilities, enabling better service to national food delivery chains while maintaining competitive edge.
TCPL Packaging Ltd (TCPLPACK) is classified within the Materials sector, specifically under the Packaging sub-sector. TCPL Packaging is recognized as India's largest manufacturer of folding cartons and a standalone convertor of paperboard. The company offers a broad spectrum of packaging solutions, including plastic cartons, blister packs, and flexible packaging items such as laminates and wrap-around labels.
TCPL Packaging appears to be in a financially stable position relative to its competitors. The probability of the company facing bankruptcy or a financial crunch seems lower than that of its immediate peers. TCPL's strong market leadership as India's largest folding carton manufacturer, combined with its diversified product portfolio and strategic expansion initiatives, positions it favorably for continued growth and success in the dynamic packaging industry.
